Common use of FARMOUT OPTION Clause in Contracts

FARMOUT OPTION. 19 5.1 Exhibit A or B Prospect Substitute Wells .....................19 5.2 Exhibit B Farmout Option .....................................20 5.3 Chevron's Participation Options and Overriding Royalties ..

FARMOUT OPTION. 19 -------------- 5.1 Exhibit A or B Prospect Substitute Wells ....................................................19 5.2 Exhibit B Farmout Option .....................................Opti▇▇ ...............................................20 5.3 Chevron's Participation Options and Overriding Royalties .................20 5.4 General Farmout Agreement Terms and Conditions .........................20 5.5